The potential return of stacked "youthful" OSVs is continuing to keep a lid on the timing of the sector's recovery.

That is the view of Maritime Strategies International (MSI) analysts Gregory Brown and Ferenc Pasztor, who warned that activity levels and therefore pricing are unlikely to return to the peaks of the last cycle.

Earnings have been between $1,500 and $3,000 per day above operating costs depending on the market, but have failed to make further progress despite some seemingly positive dynamics, they added.